Macquarie upgrades processing assumptions for Sanbrado as the performance to date has been strong.
The broker now assumes throughput of 3.2mtpa from mid 2022 to mid 2021 and then reducing to nameplate capacity by mid 2022.
Rating is downgraded to Neutral from Outperform, given recent share price strength. Target is $0.90.
Sector: Materials.
Target price is $0.90.Current Price is $0.92. Difference: ($0.02) – (brackets indicate current price is over target). If WAF meets the Macquarie target it will return approximately -2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
